Where in the Casiola Franchise Agreement can I find the definition of 'Supplemental Royalty Fee Due Date'?
Casiola Franchise · 2024 FDDAnswer from 2024 FDD Document
The Supplemental Royalty Fee shall be calculated on a calendar year quarterly basis for each respective calendar year quarter. Supplemental Royalty Fee payments shall be due on the first Thursday (the "Supplemental Royalty Fee Due Date") following the end of each calendar year quarter for the preceding quarter, and each calendar year quarter throughout the entire Term of this Agreement or, such other specific day that Franchisor designates from time to time or for such other period that Franchisor may designate.
Source: Item 23 — RECEIPTS (FDD pages 47–209)
What This Means (2024 FDD)
According to Casiola's 2024 Franchise Disclosure Document, the definition of the 'Supplemental Royalty Fee Due Date' can be found within Item 23, Receipts, of the Franchise Agreement.
Specifically, the Supplemental Royalty Fee is calculated on a calendar year quarterly basis. The 'Supplemental Royalty Fee Due Date' is defined as the first Thursday following the end of each calendar year quarter for the preceding quarter. This payment schedule remains in effect throughout the entire term of the agreement.
However, Casiola retains the right to designate a different specific day or period for these payments. This means that while the standard due date is the first Thursday after each quarter's end, Casiola can modify this at their discretion, so franchisees need to stay informed of any changes communicated by the franchisor.